May 2022 OKR Meeting Notes

May 10, 2022

1) Community Vendor: Randy Barfield w/ Barfield Home Inspections

2) Announcements:

• Stacy is now officially a Buyers Agent! Congrats!!!
• Welcome, Kathryn Strand!
• Welcome, Danny De Luna!
• Welcome, Marelise Flessner!

Leading Indicators (FUB Leaderboard)

• 281 conversations w/ 2 days 5 hrs of talk time
• 1,066 text messages
• 134,777 emails
• Top Talker = Patrick w/ 9hrs 29min
• Top Texter = Jeremy w/ 232

• We closed $46.8M and 70 transactions. This is our second biggest month in dollar volume (behind March 2022) and our biggest month ever in units! This is a +10% increase in $ volume and a +27% increase in units over April 2021!
• We contracted $45.9M and 57 transactions. This is our biggest month of $ volume in contracts written! This is a +11.4% increase in dollar volume and a -6.5% decrease in units over April 2021.
• We are at $233M YTD contracted/closed for the year. This is +48% growth YOY!
• We had 91% lead shift coverage.

1. Kasey = $8.7M
2. Craig = $6.3M
3. Linda = $5.3M
4. Bailey = $4.1M
5. Jeremy = $3.1M
6. Katie = $2.5M
7. Lauren = $2.5M
8. Will = $1.6M
9. Becky = $1.5M
10. Eric = $1.3M
11. Shaun = $1.2M
12. Tara = $1.2M
13. Gabe = $1.1M
14. Vicki = $1M

1. Kasey = $17.9M
2. Ann = $3.3M
3. Linda = $3.1M
4. Jeremy = $2.4M
5. Lauren = $2.4M
6. Bailey = $2.2M
7. Rob = $1.9M
8. Craig = $1.8M
9. Katie = $1.8M
10. Shaun = $1.4M
11. Erin = $1.1M
12. Becky = $1.1M

Exciting news! Bramlett Residential is volunteering at Community First Village on Wednesday, May 18th from 9am to 12pm. Please plan to arrive 15 minutes early so there's plenty of time to get checked in, oriented, and into the right spot. Recommended attire is close-toed shoes and long pants or socks. Additionally, you will all need to bring a water bottle and a pair of gardening gloves.

We will also need everyone to register an account on their volunteer website and then sign up for the event on this private Community First! Volunteer Sign Up page before coming out to volunteer. It serves as their waiver/release form, so please make sure to sign up online beforehand.

The suggested donation for volunteer groups, which goes towards the dignified income of the residents leading you, is $10 per person and you can submit that online here. Alternatively, you can bring cash or a check made out to "Mobile Loaves & Fishes". You can also mail your donation to us at 9301 Hog Eye Road, Austin TX 78724. Whether donating online or via check, please make sure to indicate your specific group name either in the "group name" field on the website or on the check memo line.

Let Lauren know if you have any questions!
Email: [email protected]
Cell: 512-962-3082

5) Round Table: Slowing Market / Slowing Seasonality

• Last year, we contracted ~30% fewer homes in May and June than we did in March and April. This is normal seasonality. Fewer people go under contract in May and June than in March/April
• Interest rates are now 5.5%. Rates have doubled in the last 12 months.
• We saw roughly -16% fewer sales in April 2022 than in 2021. This will continue to trend downwards.
  • Buyers can afford less. A buyer who could afford a $500k loan can now afford a $365k loan.
  • Most sellers refinanced into a ~3% loan. If they choose to move now, they have to get a 5.5% loan.
• The Austin market will likely see 20-25% fewer sales in 2022 than in 2021.
• The good news? When markets shift, it’s the easiest time to pick up market share.
  • What do I mean by that? Agents who continue operating the same way they have in the past will get a fewer % of sales. Agents who adjust to the market will get a larger % of sales. It’s time to shift (if you haven’t already.) You need to work everything that comes in.
• Our Market Update tool has been very, very successful! The open rate is up to 64.7%. We need to lean into this.
  • Every person you talk to gets a Market Update or a Buyer Search. Literally, offer it to everyone.
• Fill your pipeline with people who are interested in possibly buying or selling. Over the next year, they will get used to these higher rates and they will eventually buy or sell. If you consistently follow up with them, you will win.
  • Agents who only prioritize 1-3 Month leads will see their production decline. Agents who take the time to service and follow up with the Warm (3-6 Months) and LT Nurture (6+ Months) leads will win in late 2022 and 2023.

• Lauren is now 100% out of the management role and 100% in production. This doesn’t mean that she’s off limits for advice, help, etc… However, please be mindful that it’s no longer her job to answer questions.
• Seller Leads - now enter them into FUB and tag them “seller leads” or “sellerleads”
• Spam on the webforms is getting pretty bad. We’ve started to rebuild all of the forms to address this. This will take some time to complete.
• $99 virtual “Building a Smart Business” by Ninja Selling on June 22. I will attend and I recommend everyone attend! This is a $99 3-hour course.
• We’re in the process of making more staff hires.
• We’ve doubled resources on the Client Portal. We’ll see monthly revisions rolling out. We have a pretty big (epic) set of features coming in the next 1-2 weeks.
• The VAs were pretty unavailable last week due to Eid, which is like Christmas in their culture. We go through this every year where there’s a week of slow service and then they’re back on track.
• Remine discussion. Is anyone interested in it? Questions about it?

8) Market Updates